JPMorgan forecast puts fourth-quarter 2026 gold average at 6,000 dollars an ounce

JPMorgan analysts have forecast that gold could average 6,000 US dollars an ounce during the fourth quarter of 2026. The figure is a quarterly-average forecast, not a promise that the spot price will reach a particular level on a particular day.

The accompanying report quotes an international price of about 4,129 dollars an ounce on November 9. Chennai retail quotations for that date were 144,760 rupees per 10 grams for 24-carat gold and 132,697 rupees per 10 grams for 22-carat gold. Retail rates can differ between associations and sellers, and purity and weight must be considered when comparing them.

Continued central-bank purchases, economic uncertainty and investor demand for gold are cited as possible drivers of further gains. The dollar, bond yields and changes in crude oil prices may also influence demand and pricing.

The outlook remains sensitive to US Federal Reserve interest-rate policy and movements in the dollar. Forecasts can change as conditions shift; the suggested average should not be read as a guaranteed return. International per-ounce prices are not directly interchangeable with local retail quotations.